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20130115
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crisis. what are the consequences? welcome. i'm ali velshi. the government has paid its bills on time for 237 years and now congress is threatening to blow it. earlier this week, the ratings agency fitch threatened to downgrade america's sovereign credit rating if washington failed to resolve the issue in a timely manner. s&p downgraded america's perfect credit rating back in august of 2011. fitch didn't do it at the time. but the last time we had one of these debt ceiling debacles that embarrassment was the first downgrade of u.s. credit in history. if congress doesn't act and we default for the first time ever, the consequences are likely to be severe for all of us. federal interest costs would likely rise, business and personal borrowing costs would probably follow. it would also make the struggle to manage our historic debt levels tougher. the worst thing that can happen if you're beck lg under debt, is for your interest rate to go up. it could mean higher taxes and more cults to programs and services from the government. any hope for a controlled fix to our debt problem would be
Search Results 0 to 1 of about 2 (some duplicates have been removed)

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